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UK’s largest semiconductor facility secures major investment

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Newport factory to support 500 new jobs and play vital role in EV supply chain

WALES is set to benefit from a £250 million investment into its advanced manufacturing sector, as US tech giant Vishay Intertechnology commits to expanding operations at the UK’s largest semiconductor facility in Newport.

The investment is a major vote of confidence in Wales’s industrial capabilities and will further strengthen South Wales’s status as home to the world’s first Compound Semiconductor Cluster. It comes as part of the UK government’s Plan for Change to grow the economy, support skilled jobs, and enhance national resilience in critical sectors.

Chancellor of the Exchequer Rachel Reeves will visit the Newport site today (Thursday, March 27) to formally welcome the investment, which will boost production of Silicon Carbide semiconductors—an essential component in electric vehicles (EVs). These next-generation chips enable faster battery charging, improved energy efficiency, and extended driving ranges.

The development is expected to directly create over 500 high-value, highly-skilled jobs in Newport and support hundreds more across the wider supply chain. The project is backed by the UK’s Automotive Transformation Fund (ATF), which supports innovation and domestic supply in critical technologies such as semiconductors.

Chancellor Rachel Reeves said: “Under this government, the UK is open for business. This is exactly the type of investment that will help us grow the economy, create highly-skilled jobs, and boost opportunity across the country, as we deliver on our Plan for Change to get more money into working people’s pockets.”

The investment follows the Chancellor’s Spring Statement, where she announced a “new era of security and national renewal.” The Office for Budget Responsibility has upgraded growth forecasts for 2026 and beyond, with households expected to be £500 better off per year by the end of this Parliament compared to under the previous government.

The announcement marks a major step in the UK’s ambition to become a global leader in advanced manufacturing. From 2010 to 2023, the UK saw the fastest growth in manufacturing productivity per job among G7 nations.

Business and Trade Secretary Jonathan Reynolds said:
“This is a huge vote of confidence in the Welsh economy and our plans to make Britain the destination of choice for investment in the industries of tomorrow. Vishay’s investment will help secure a domestic supply of semiconductors for our world-leading automotive and clean energy sectors—key drivers of long-term economic growth.”

Secretary of State for Wales Jo Stevens added:
“This massive investment by Vishay and the UK Government is a huge boost for Wales’s world-leading semiconductor industry. It will build on the success of our advanced manufacturing, renewable energy, and defence sectors—creating and supporting hundreds of skilled, well-paid jobs across South Wales.”

Vishay’s Chief Operating Officer for Semiconductors and Chief Technology Officer, Roy Shoshani, said:
“This is an exciting moment and the beginning of our growth journey in the UK. With a skilled workforce and strong government backing through the Industrial Strategy, the UK has an opportunity to lead in advanced semiconductor manufacturing—enhancing economic security and helping deliver Net Zero.”

The investment coincides with the Chancellor’s participation in the Invest in Women Taskforce roundtable in Wales, which has secured over £250 million in funding commitments for female entrepreneurs.

The Automotive Transformation Fund—delivered in partnership with the Advanced Propulsion Centre (APC)—has already helped unlock more than £6 billion in private sector investment for the UK’s transition to zero-emission vehicles. In addition, the Autumn Budget committed over £2 billion to capital and R&D funding for zero-emission vehicle manufacturing over the next five years.

Mike Hawes, Chief Executive of the Society of Motor Manufacturers and Traders (SMMT), said:
“This significant investment in compound semiconductors is a huge contribution to the innovation and advanced technology necessary to drive the future of UK automotive. British-made next-generation semiconductors will create jobs, support supply chains, and enhance the UK’s strategic capabilities.”

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Fat Freddies reassures customers after technical hiccup at new Johnston venue

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FAT FREDDIES, the new family-run restaurant at the former Silverdale Inn in Johnston, has thanked customers for their overwhelming support after a temporary closure on Friday (May 16) due to teething problems with its order system.

The business, which launched earlier this week as part of a soft opening, faced technical issues with its till and printer setup, which led to confusion in the kitchen and order delays. The team made the decision to pause service mid-shift to investigate and fix the problems — and their honesty and transparency have earned them praise from loyal customers.

In a heartfelt social media post, the team wrote: “Even with additional staff, we were left with no choice but to end the mess that was building up and spend the afternoon problem-solving. Emotional and devastated, after a great opening week to be hit with these issues on our third day.”

Despite the setback, customers have rallied behind the business.

Jo Goldsmith commented: “We had a wonderful breakfast on Wednesday, absolutely delicious and fantastic service. Keep going!”

Roo Ash praised the team’s decision to take a break rather than “try to save a sinking boat,” adding: “You got this! Can’t wait to pop down!”

Another regular, Dianne Riddiford, was equally understanding: “Ahhh there’s always a few gremlins at the start. Enjoy the afternoon and we shall see you tomorrow morning.”

Emma Sutton said: “Sounds like you did the right thing, guys. Chin up, onwards and upwards.”

Even those who missed out are planning to return. Michael Butler said: “We came around 11am but were told the kitchen was closed due to catching up. We were gutted — will try come again.”

Fat Freddies confirmed they are now fully focused on getting everything operational again, with a larger team on hand for the weekend rush. The soft launch continues, with the owners saying the whole point was to iron out issues before a full-scale opening.

They added: “We’re gutted — but also so grateful for everyone’s support and understanding. We’ll be back stronger.”

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Sir Michael Moritz tops Welsh Rich List as Sunday Times reveals UK’s wealthiest in 2025

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Drop in UK billionaires but rising young fortunes for Wales

SIR MICHAEL MORITZ and his wife Harriet Heyman have retained their crown as the wealthiest individuals in Wales, topping the Welsh list in The Sunday Times Rich List 2025, which was published online today (Friday, May 16) and will appear in this Sunday’s print edition of The Sunday Times.

The Cardiff-born venture capitalist and his American novelist wife are worth an estimated £4.43 billion, despite a recent £168 million dip. They lead the list of the top 20 richest people in Wales, compiled as part of the newspaper’s annual 76-page special on Britain’s richest individuals and families.

Douglas and Dame Mary Perkins, founders of the high-street opticians chain Specsavers

Hot on their heels is tech entrepreneur Simon Nixon, with a fortune of £1.95 billion — up £70 million on last year. West Wales is also represented in the top ranks, with Douglas and Dame Mary Perkins, from Carmarthenshire, founders of the high-street opticians chain Specsavers, valued at £1.54 billion. The couple famously launched the company from a ping-pong table in their spare bedroom.

This year’s Rich List reveals the largest drop in UK billionaires in its 37-year history, with the number falling from a peak of 177 in 2022 to just 156 in 2025. The combined wealth of the 350 people featured is now £772.8 billion — a 3% decrease on last year.

While the overall number of billionaires is shrinking, there has been a surge in younger millionaires. For Wales, 39-year-old sports retail entrepreneur Alex Loven leads the under-40 category with an estimated wealth of £262 million. Entry to the 40 Under 40 section now requires a staggering £100 million — nearly double last year’s threshold.

Robert Watts, compiler of The Sunday Times Rich List, commented: “Our billionaire count is down, and the combined wealth of those who feature in our research is falling. We’re also seeing fewer of the world’s super-rich choosing to live in the UK. But at the same time, we’re still uncovering remarkable stories of self-made wealth — from new tech and AI ventures to everyday products like jogging bottoms and radiators.”

The list also highlights rising frustration among entrepreneurs and business leaders about the direction of economic policy. Watts noted that even long-standing British business owners and young tech innovators are warning of the effects of tax changes introduced in the 2024 Autumn Statement.

Among the familiar names still featured are Sir Elton John, Sir Mick Jagger, Sir Lewis Hamilton, and film director Sir Christopher Nolan. The entry level for the Rich List remains at £350 million.

The Rich List also includes The Sunday Times Giving List, which tracks philanthropic giving. This year, the 100 most generous individuals donated £3.7 billion to charity. Welsh businessman Steve Morgan alone contributed millions and called for “braver philanthropic giving to tackle systems, not symptoms.”

The top 5 richest in Wales (2025):

  1. Sir Michael Moritz and Harriet Heyman – £4.43bn (venture capital and philanthropy)
  2. Simon Nixon – £1.95bn (technology)
  3. Douglas Perkins and family – £1.54bn (opticians – Specsavers)
  4. Sir Terry Matthews – £1.34bn (telecoms)
  5. David Sullivan and family – £1.12bn (property)

Top under 40 in Wales:

  • Alex Loven – £262m (sports retail)

The full list of the 350 richest individuals in Britain and further analysis is available online at: https://www.thetimes.com/sunday-times-rich-list
Source: The Sunday Times Rich List 2025

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Welsh TV sector boosted as hit BBC drama films in Cardiff

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Cardiff stands in for London again as Industry returns for fourth season

THE WELSH TV industry has received a major boost as filming continues in Cardiff for the fourth season of the hit BBC and HBO drama Industry.

The high-profile series, which follows the lives of ambitious young bankers working in London, is being produced once again by Cardiff-based company Bad Wolf. This season is backed by Welsh Government funding through Creative Wales, under a four-year deal designed to grow the nation’s television sector.

As part of the agreement, the production offers paid trainee roles and career development opportunities for Welsh crew members through Screen Alliance Wales. The Herald understands at least 42 trainee and upskilling placements will be delivered as part of the scheme, helping more people from Wales enter or progress within the TV industry.

The new series stars BAFTA winner Marisa Abela, Myha’la and Game of Thrones actor Kit Harington. New cast members include Stranger Things star Charlie Heaton and Max Minghella of The Social Network and The Handmaid’s Tale.

Although set in London, much of the filming takes place in Cardiff, with the capital doubling for the City’s financial district. In recent years, Cardiff has also stood in for locations including Oxford in His Dark Materials and an unnamed US city in Netflix’s Havoc.

Skills and Culture Minister Jack Sargeant visited the Industry set this week and met with cast, crew and trainees. He said:
“As Learning at Work Week draws to a close, it’s been a pleasure to hear about the fantastic experience our Welsh trainees are gaining on Industry.

“These placements help develop our homegrown talent and reinforce Wales’ growing reputation as a world-class filming location.”

Jacob Cook, a trainee in the graphics department, said he was working in a supermarket before landing the role:
“I studied graphic design at university but had no idea how to get into the film and TV industry. I met someone from Screen Alliance Wales at a careers fair, and two weeks later I was working on set.

“It’s a fast-paced role where I’ve learned so much. You don’t have to go to Hollywood to build a successful career – you can come to Splott!”

Costume trainee Rosie Berry added:
“I’ve got a degree and a master’s in costume design, but after taking time out to raise my children, I wanted to get into the industry properly.

“I’m now based in the studio, helping with fittings for supporting actors – some days we do up to 40 fittings. This placement has given me the confidence to apply for a junior role and work my way up.”

The Welsh Government says the deal with Bad Wolf commits the production company to a minimum Welsh spend over four years, helping to strengthen the domestic industry and build long-term career pathways for Welsh workers.

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